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Shaft Sinkers

January 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Operating in Russia has proven not to be the Shangri La that Shaft Sinkers once imagined. Compared to its mainstay of sinking shafts for platinum miners in South Africa, its contract to sink a shaft for mining potash for Eurochemâ€™s Volgakaly project has proved problematic. The contract was unique because not only was the environment harsh but it had to contend with the problem of cementation to seal water, which would otherwise spoil the potash as the shaft was sunk. Shaft Sinkers now says that having experienced difficult subsoil conditions, which has made progress slow, it has downed tools and initiated discussions with Eurochem - and this is rather at odds with the in-line trading update as recently as November. The hope is that Sha ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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